Hamilton Capital Partners LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Hamilton Capital Partners LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,517 shares of the CRM provider’s stock, valued at approximately $7,528,000. Salesforce comprises approximately 4.7% of Hamilton Capital Partners LLC’s portfolio, making the stock its 10th biggest holding.

Other large investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at $27,000. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,793 shares of company stock worth $383,156,227. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRM shares. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lowered their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler lowered their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.62.

Salesforce Stock Performance

Shares of NYSE CRM opened at $282.74 on Friday. The stock has a market capitalization of $270.58 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.58 and a beta of 1.35. The firm’s 50-day moving average price is $323.68 and its two-hundred day moving average price is $308.18. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.